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It is true, the housing affordability index is the best it has been in 39 years, since they started keeping track .  The cost of borrowing money has never been lower, prices have retreated to 2002 levels in many areas, and sellers have needed to lower prices to attract buyers.  It makes sense to buy up in a down market!  If you have a home to sell, now is a good time to aggressively price your house to sell and buy up to the next category of home.  Home prices are down 25-35% from the housing peak in 2007.  Higher end, move-up homes are equally hurt and if your present house is down 25%, in all likelihood the same 25% price reduction on that next house offer  larger dollar savings than the paper loss of the sale of your home.